6 June 2019
IMB Bank announced today that it will pass on the 0.25% reduction across residential and business lending products, in line with the reduction to the cash rate announced on Tuesday by the Reserve Bank of Australia.
In addition, IMB announced reductions to its 1, 2 and 3-year fixed rate loans for our home loan borrowers. Check out the new rates for both Owner Occupiers and Investment customers below.
|
Owner Occupier P&I loans |
Interest Rate p.a. |
Comparison Rate p.a. |
|---|---|---|
|
1 Year Fixed Rate Loan P&I |
3.49% |
4.71% |
|
2 Year Fixed Rate Loan P&I |
3.49% |
4.60% |
|
3 Year Fixed Rate Loan P&I |
3.49% |
4.50% |
|
Investment P&I loans |
Interest Rate p.a. |
Comparison Rate p.a. |
|---|---|---|
|
1 Year Fixed Rate Loan P&I |
3.79% |
5.25% |
|
3 Year Fixed Rate Loan P&I |
3.79% |
4.99% |
IMB Bank CEO Robert Ryan said, “IMB continues to review its interest rates to ensure that we are balancing the interests of all of our members, but these changes ensure IMB Members have access to some of the most competitive home and business loan interest rates in the country.”
The interest rate changes come into effect from June 21.
Normal IMB lending criteria, terms and conditions, fees and charges apply. IMB Rates current as at date of appearance and subject to change. Fixed rates are indicative and may vary on settlement. All fixed loans convert to a discount off the standard variable rate at the end of the fixed term. Comparison Rate is based on a $150,000 secured loan over 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts may result in different Comparison Rates.